Cornercap Investment Counsel Inc. Invests $480,000 in AppFolio, Inc. (NASDAQ:APPF)

Cornercap Investment Counsel Inc. acquired a new position in AppFolio, Inc. (NASDAQ:APPF) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,768 shares of the software maker’s stock, valued at approximately $480,000.

Other institutional investors have also recently bought and sold shares of the company. Fred Alger Management LLC raised its position in shares of AppFolio by 623.8% during the 4th quarter. Fred Alger Management LLC now owns 497,164 shares of the software maker’s stock valued at $52,391,000 after acquiring an additional 428,479 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of AppFolio in the 3rd quarter valued at $33,062,000. Norges Bank acquired a new position in shares of AppFolio in the 4th quarter valued at $17,253,000. Nellore Capital Management LLC acquired a new position in shares of AppFolio in the 1st quarter valued at $16,069,000. Finally, Morgan Stanley grew its holdings in shares of AppFolio by 97.4% in the 3rd quarter. Morgan Stanley now owns 206,803 shares of the software maker’s stock valued at $37,768,000 after buying an additional 102,025 shares during the period. Institutional investors own 62.34% of the company’s stock.

Insider Transactions at AppFolio

In related news, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Olivia Nottebohm sold 989 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the sale, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,489 shares of company stock valued at $3,531,011. 9.15% of the stock is currently owned by company insiders.

AppFolio Stock Down 0.5 %

AppFolio stock opened at $214.58 on Wednesday. The stock has a market cap of $7.70 billion, a P/E ratio of 7,155.05 and a beta of 0.80. AppFolio, Inc. has a twelve month low of $123.36 and a twelve month high of $253.42. The company’s 50-day moving average price is $232.16 and its two-hundred day moving average price is $203.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.29. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. The firm had revenue of $171.83 million for the quarter, compared to analysts’ expectations of $162.80 million. Equities analysts anticipate that AppFolio, Inc. will post 2.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday, January 26th. BTIG Research assumed coverage on shares of AppFolio in a research note on Friday, January 19th. They set a “buy” rating and a $215.00 price objective for the company. StockNews.com downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. increased their price objective on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, KeyCorp increased their price objective on shares of AppFolio from $254.00 to $264.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.40.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.